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Find out the amount you are eligible for and get a quote from top banks with our Eligibility calculator.
Loan Against Property
While searching for a loan against property, the first question that comes to mind is how much I can get.
The answer is calculated on the basis of a) the percentage of property value that you own and b) how much income you have left after paying other EMIs that you can use for repaying this new loan. So you can get Loan against property up to a certain percentage of the value of the property and your Net Income.
A limiting factor for being available for loan against property is Maximum Age. For salaried employees, the maximum age to be eligible is 60 years and for self employed individuals; the maximum age is 70 years.
If you want to check for how much loan amount you are eligible, so go through this link which let you know the exact amount on the basis of your Net monthly Income, Liabilities, No. of dependents etc etc.
Residential Property:- Self Occupied - 65% Vacant - 55% Rented - 55% |
Commercial Property:- Self Occupied - 50% Vacant - 40% Rented - 40% |
Note: The amount of loan available against property varies from bank to bank in the range of 5-10%
Banks | Interest Rates | Processing fees |
HDFC | 8.50% to 9.00% | Maximum of 1% of loan amount |
Ing vysya | N.A | 1% |
ICICI Bank | 8.35% - 9.25% | 1.00 % + AT* |
Axis Bank | 10.50% - 11.25% | 1% or Rs 10,000 (whichever is higher) |
PNB HFL | 9.50% - 10.15% | N.A |
IDBI Bank | 8.75% - 9.35% | Up to 1% of the loan amount plus service tax as applicable |